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Online Only Banks

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  • 02-03-2015 11:53pm
    #1
    Volovo
    Registered Users Posts: 93 ✭✭


    Hey,

    Are there any Online Only Banks in Ireland? For current accounts?

    I understand that Rabodirect is an online only savings bank, but I am interested to find out if there are Online Only banks offering current accounts.


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    #2
    jrmb
    Registered Users Posts: 698 ✭✭✭jrmb


    KBC offers current accounts. It does have a few branches but they're cashless.


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    #3
    Yggr of Asgard
    Registered Users Posts: 5,224 ✭✭✭Yggr of Asgard


    Volovo wrote: »
    Hey,

    Are there any Online Only Banks in Ireland? For current accounts?

    I understand that Rabodirect is an online only savings bank, but I am interested to find out if there are Online Only banks offering current accounts.

    It depends on what you mean when you say "online only bank".

    Are you just after banks that offer no physical contacts point and solely operate online (none) or banks that might have have a sales point but no cash (KBC) or banks that have branches but allow you to open your account online (several).


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    #4
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    Volovo wrote: »
    I am interested to find out if there are Online Only banks offering current accounts.

    Are you non resident perhaps? or what exactly is prohibiting you going into a branch to open a current account?


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    #5
    Volovo
    Registered Users Posts: 93 ✭✭Volovo


    JTMan wrote: »
    Are you non resident perhaps? or what exactly is prohibiting you going into a branch to open a current account?

    There is nothing stopping me opening an account in branch. I was just interested to find out if there were any online only banks. I thought perhaps without the overheads of actual branches there might be accounts with no fees / better rates etc.

    I am graduating from college this year, and will be starting my first real job with proper salary so I'm looking into the best bank account option for me. Its not something I've thought about before.


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    #6
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    Okay. There are 5 banks in Ireland that offer current accounts. None of their current account products are online-only.

    Your best bet is PTSB who will give you free day-to-day banking provided you deposit at least 1,500 EUR per month into your current account.


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    #7
    Sheeps
    Registered Users Posts: 2,762 ✭✭✭Sheeps


    Realex Fire is an online bank account.


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    #8
    Yggr of Asgard
    Registered Users Posts: 5,224 ✭✭✭Yggr of Asgard


    Sheeps wrote: »
    Realex Fire is an online bank account.

    Now I am not sure if you really can call it a bank account, it's currently lacking the ability of withdrawing cash via ATM. You still need another account to access cash. They also don't allow direct debits.


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    #9
    Sheeps
    Registered Users Posts: 2,762 ✭✭✭Sheeps


    Yggr of Asgard wrote: »
    Now I am not sure if you really can call it a bank account, it's currently lacking the ability of withdrawing cash via ATM. You still need another account to access cash. They also don't allow direct debits.

    Technically speaking though it's an online only bank account. It has a bic and iban.


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    #10
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    Sheeps wrote: »
    Technically speaking though it's an online only bank account. It has a bic and iban.

    Yes but a very limited online bank account with no debit cards, no credit cards, no cash banking, no branches, no ATM access, no deposit protection, no interest payments and very limited online facilities.

    The OP is looking for a current account. Realex Fire is far from that.


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